Able Waste has used the finance to invest in equipment including a Trommel screen and a fleet of trucks for the collection of material.
The firm now employs over 30 people and provides waste management, demolition and skip hire services across London.
Ilir Berisha, founder of Able Waste Services, said: “When I was originally employed as a builder, I noticed the increase in waste disposal costs. At first, I wanted to cut costs so I could pass savings onto my clients but then I realised I could make the waste disposal process more efficient and environmentally friendly.
“With the financial support and professional assistance of HSBC, we have been able to develop a state-of-the-art waste management site which can process 150 tonnes of rubbish a day and remove 98% of recyclable material.”
Business
Lucy Wynn, HSBC’s area director for business banking in South London, said: “We are delighted to see that Able Waste is now a strong provider for the community and has provided great employment opportunities in Croydon.
“Start-up businesses are incredibly important to our economy and provide a significant amount of new jobs each year. In the past five years, the amount of unemployed people in this country has dropped by over one million and the creation of new businesses certainly contributes towards this drop in unemployment.”
Ms Wynn added: “Able Waste acts as a further demonstration of HSBC’s continued commitment to start-up companies, with facilities available including finance workshops and fee-free banking.”
HSBC said the funding package is part of its £4 million commitment in supporting start-up businesses and SMEs in South London.
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